Senioresidenz raises CHF 6 million with convertible bond
Senioresidenz AG has placed the announced mandatory convertible bond. At around CHF 6.1 million, the issue proceeds are well below the maximum target that was recently communicated.
Senioresidenz AG announces the placement of unsecured mandatory convertible bonds totaling around CHF 6.1 million. Proceeds of up to CHF 20 million were announced when the issue was announced. (IB reported).
Acquisition for 9 million in Thurgau
The company intends to use the net proceeds to finance acquisitions. A first property in Salmsach (TG) worth around CHF 9 million and with a long-term, 15-year rental agreement with the operator has already been acquired.
The term of the bond begins on July 3 of this year and ends one year later. The transaction consisted of a public offer in Switzerland to the company's existing registered shareholders, while retaining advance subscription rights, and an open placement to other interested investors.
Coupon at 3.5%
The mandatory convertible bond will be issued at 100% of its nominal value and will be paid out on July 3. It carries a coupon of 3.5% p.a. and will be mandatorily converted into newly issued listed registered shares of the company on July 3, 2024 at an initial conversion price of CHF 43.00 net per registered share. At the initial conversion price, the bonds are convertible into 141,651 registered shares, which corresponds to 5.54% of the currently outstanding registered shares. (aw)
